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‘Historic milestone’ for Queensland’s LNG industry

LNG Industry,

According to David Byers, CEO of the APPEA, the departure of the first LNG tanker from Queensland’s Gladstone Harbour represented an “historic milestone” for both the state and those involved in the project.

On 5 January, the first tanker loaded with LNG left the Queensland Curtis LNG (QCLNG) project, the first of three coal seam gas to LNG projects to be commissioned in Queensland.

QCLNG is now Australia’s fourth operating LNG project. Another six projects – representing a total investment of more than AUS$180 billion – are still under development.

In 2012-13, Australia shipped 23.9 million t of LNG cargoes, earning AUS$13.7 billion in export revenue. Australian LNG exports are expected to almost quadruple over the next few years. By 2018, Australia is forecast to overtake Qatar as the world’s top producer of LNG.

Byers said: “The first Queensland LNG cargo represents an historic milestone, not only for the state of Queensland, but for all the people who have worked so hard throughout the past five years to make this enormous project a reality. Successive state and federal governments, local councils, agricultural bodies and community representatives have shown leadership to realise the emergence of this multi-billion dollar industry.

“Thousands of jobs have been created, regional communities have been renewed, and a long term stream of royalties will flow to the state, which will benefit all Queenslanders.”

The Queensland government forecasts that in 2015-16 LNG production will underpin a surge in exports to boost economic growth by 5.75%.

“Extraordinary technology and the emergence of a burgeoning Asian market have allowed industry to produce and commercialise Queensland’s enormous gas reserves,” Byers continued. “And because natural gas is a much cleaner-burning fuel than traditional energy sources, exporting gas to places such as China and India is among the most meaningful contributions Australia can make to reducing global greenhouse emissions.”

Adapted from press release by Katie Woodward

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